Banco Comercial Português (BPCGF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon. Miguel Maia speaking. Welcome to BCP Earnings Conference Call. I will go through the highlights of our performance, followed by Miguel Braganza and Bernard Klaas, who will provide additional detail. In a context marked by high unpredictability, shaped by geopolitical challenges affecting economic agents' confidence, instability and unrest caused by the ongoing wars, and in the eurozone, a significant reduction in interest rates, BCP achieves positive progress in results and key business and financial indicators in the first half of this year. Once again, we have demonstrated disciplined capital management, constant focus on operational efficiency, commitment to customer orientation and the ability, quarter after quarter, to consistently deliver on the strategic plans we presented to the market. In the first six months, the consolidated net incomes stood at 502 million, an increase of 3.5% year-on-year, supported by a strong operational performance, having achieved an ROE of 14.3%. All our core markets, despite having different challenges, contributed positively to the results with the activity in Portugal standing out once again with a net income of 424 million, having increased 3.2% year on year. It deserves to be mentioned that the increase in net income in Portugal has been driven by the core capabilities of our business model. We have achieved higher operational revenues, although within the context of a continued reduction in interest rates over the past year, thanks to appropriate interest rate risk management and strong commercial intensity. These factors led to the expansion of business volumes, combined with a controlled cost of risk. The net income from international operations grew by 11.8% year on year, having achieved almost 147 million i...